I'm not saying that litecoin can't go higher from here, but the signs are there for a reversal in the downward direction.
1. HMAs appear to want to test a cross, but still in an unfavorable position
2. RSI and price are showing us a divergence that would suggest down.
3. MACD already topped out and have started downward.
markets are heavily manipulated, so anything could happen. with that said, if the price goes below the support that it started end of April, i'd jump ship.
now you may say "but muh halvings!!"
this may be the end of the halving hype. people buy the rumor, sell the news. though we all know the halving isn't a rumor, looking into the past, price always gives a little pump and dump right before the halvings of ltc, btc, and vtc.
1. HMAs appear to want to test a cross, but still in an unfavorable position
2. RSI and price are showing us a divergence that would suggest down.
3. MACD already topped out and have started downward.
markets are heavily manipulated, so anything could happen. with that said, if the price goes below the support that it started end of April, i'd jump ship.
now you may say "but muh halvings!!"
this may be the end of the halving hype. people buy the rumor, sell the news. though we all know the halving isn't a rumor, looking into the past, price always gives a little pump and dump right before the halvings of ltc, btc, and vtc.